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Revised CLARITY Act Targets 'Non-Decentralized' DeFi Operators
Revised CLARITY Act Targets 'Non-Decentralized' DeFi Operators
Authored by Ezra Reguerra via Cointelegraph,
A revised version of the CLARITY Act would direct United States regulators to determine whether people or groups controlling "non-decentralized finance trading protocols" must comply with securities, commodities and anti-money laundering (AML) requirements.
The revised text, posted on Senator Cynthia Lummis' website, defines such a protocol as one whose functionality, operation, or rules can be materially altered by a person or coordinated group. The definition also covers protocols whose controllers can restrict users or whose transactions are not governed...
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